{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-031682","form_type":"8-K","ticker":"VIPZ","cik":"0001832161","company_name":"VIP Play, Inc.","filed_at":"2024-08-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:14.782351+00:00","generated_at":"2026-05-31T09:48:31.416007+00:00","sec_items":["1.01","2.03","1.02","4.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"KeyStar restates Q1 2024; $4.4M derivative error; new $5M credit line from CEO affiliate","bullets":["Derivative liability understated by $4,388,883 for three and nine months ended March 31, 2024; loss on change in fair value also understated.","Company will amend its Q1 2024 10-Q by August 23, 2024; prior financial statements should no longer be relied upon.","Entered $4.11M Sixth Amended Note and $5M New LOC with Excel Family Partners (controlled by CEO Bruce Cassidy); $4.81M outstanding under New LOC as of Aug 13.","New LOC interest rate reduced to 12.0% vs 15.0% on prior note; both convertible at 80% of the lowest recent price.","Error identified on August 9, 2024; management discussed with independent auditor; restatement expected."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-031682","json":"https://secwatch.observer/filing/0001493152-24-031682.json","markdown":"https://secwatch.observer/filing/0001493152-24-031682.md","text":"https://secwatch.observer/filing/0001493152-24-031682.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1832161/000149315224031682/0001493152-24-031682-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1832161/000149315224031682/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T09:48:31.416007+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}